I lived on a resort where the owner was selling 30 year leases, with the con that they were renewable for 30 years. I have a Thai daughter, so got a 3 year lease with the option to buy in my daughter's name within that period. Cost nothing. It worked out and we got the chanote. But later on, another leaseholder tried to buy the land in his Thai daughter's name, based on a similar option to buy, and the owner challenged it in court, and won. The judge said a lease cannot be construed as a sales contract.
Now, virtually all the leaseholders (maybe 10) have sold up, at very poor prices. The clock is ticking with a lease. If there's only say 15 years left, who will want to buy it, if the lessor won't issue a new lease?